M&A Deal Summary

Neuberger Berman Insurance-Linked Strategies Acquires ENTRUST Solutions

On August 7, 2023, Neuberger Berman Insurance-Linked Strategies acquired business services company ENTRUST Solutions from Kohlberg & Company

Acquisition Highlights
  • This is Neuberger Berman Insurance-Linked Strategies’ 1st transaction in the Business Services sector.
  • This is Neuberger Berman Insurance-Linked Strategies’ 2nd transaction in the United States.
  • This is Neuberger Berman Insurance-Linked Strategies’ 2nd transaction in Illinois.

M&A Deal Summary

Date 2023-08-07
Target ENTRUST Solutions
Sector Business Services
Buyer(s) Neuberger Berman Insurance-Linked Strategies
Sellers(s) Kohlberg & Company
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Ropes & Gray (Legal)

Target

ENTRUST Solutions

Warrenville, Illinois, United States
EN Engineering's corporate headquarters in Warrenville, Illinois.
EN Engineering's corporate headquarters in Warrenville, Illinois.
ENTRUST Solutions is an outsourced provider of comprehensive design, engineering, and consulting services to utilities in the U.S. ENTRUST Solutions offers customers a full spectrum of services with expertise in gas and electric distribution, pipeline infrastructure, automation systems, and integrity management solutions. ENTRUST Solutions is based in Warrenville, Illinois.

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Buyer(S) 1

Buyer

Neuberger Berman Insurance-Linked Strategies

New York City, New York, United States

Category Company
Founded 2009
Sector Insurance
DESCRIPTION

Neuberger Berman Insurance-Linked Strategies is a provider of risk-adjusted returns using a dynamic and active risk management approach. Neuberger Berman Insurance-Linked Strategies was founded in 2009 and is based in New York City, New York.


DEAL STATS #
Overall 2 of 2
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Illinois M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 Sphera

Chicago, Illinois, United States

Sphera is a global provider of Operational Excellence software and information services with a focus on Operational Risk, Environmental Health & Safety (EH&S), and Product Stewardship. Sphera is based in Chicago, Illinois.

Buy $1.4B

Seller(S) 1

SELLER

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


DEAL STATS #
Overall 47 of 48
Sector: Business Services M&A 5 of 5
Type: Add-on Acquisition M&A Deals 18 of 18
State: Illinois M&A 2 of 2
Country: United States M&A 46 of 47
Year: 2023 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Worldwide Clinical Trials

Research Triangle Park, North Carolina, United States

Worldwide Clinical Trials is a medically and scientifically driven contract research organization (CRO) providing early and late stage drug development services for pharmaceutical and biotechnology companies. Worldwide Clinical Trials is based in Research Triangle Park, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-09 Engage PEO

Hollywood, Florida, United States

Engage PEO provides comprehensive HR solutions to small and mid-sized businesses nationwide, sharpening their competitive advantage. Comprised of the industry’s most respected veteran professional employer organization executives, certified HR professionals and attorneys, Engage PEO provides hands-on, expert HR services and counsel to help clients minimize cost and maximize efficiency for stronger business performance. The company’s superior service offering includes a full range of health and workers’ compensation insurance products, payroll technology and tax administration, risk management services and advanced technology as part of an extensive suite of HR services. Engage PEO was formed in 2011 and is based in Hollywood, Florida.

Buy -